Granahan Investment Management LLC Purchases 635,526 Shares of Digital Turbine, Inc. $APPS

Granahan Investment Management LLC raised its position in Digital Turbine, Inc. (NASDAQ:APPS) by 11.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,349,463 shares of the software maker’s stock after buying an additional 635,526 shares during the quarter. Digital Turbine makes up about 1.4% of Granahan Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Granahan Investment Management LLC owned 0.05% of Digital Turbine worth $31,747,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. boosted its position in Digital Turbine by 642.7% in the 3rd quarter. Citigroup Inc. now owns 316,825 shares of the software maker’s stock valued at $2,028,000 after buying an additional 274,169 shares during the last quarter. S Squared Technology LLC boosted its position in Digital Turbine by 13.0% in the 4th quarter. S Squared Technology LLC now owns 653,571 shares of the software maker’s stock valued at $3,268,000 after buying an additional 75,000 shares during the last quarter. UBS Group AG boosted its position in Digital Turbine by 444.0% in the 4th quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock valued at $3,898,000 after buying an additional 636,267 shares during the last quarter. GSA Capital Partners LLP boosted its position in Digital Turbine by 890.2% in the 4th quarter. GSA Capital Partners LLP now owns 189,394 shares of the software maker’s stock valued at $947,000 after buying an additional 170,268 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in Digital Turbine by 23.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,180 shares of the software maker’s stock valued at $66,000 after buying an additional 2,536 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APPS has been the topic of a number of recent research reports. Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Finally, Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Digital Turbine has an average rating of “Moderate Buy” and an average price target of $8.75.

Digital Turbine Stock Performance

Shares of Digital Turbine stock opened at $9.40 on Wednesday. The company has a market capitalization of $1.13 billion, a PE ratio of -26.11, a PEG ratio of 0.76 and a beta of 2.84. Digital Turbine, Inc. has a 12 month low of $2.74 and a 12 month high of $10.80. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84. The stock’s fifty day simple moving average is $5.38 and its 200 day simple moving average is $4.79.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. The business had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.23 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. On average, research analysts predict that Digital Turbine, Inc. will post 0.68 EPS for the current year.

Digital Turbine Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.